April 4 (Reuters) – Yahoo Inc said it was laying
off 2,000 employees, signaling a broad shakeup of the company.
“Today’s actions are an important next step toward a bold,
new Yahoo — smaller, nimbler, more profitable and better
equipped to innovate as fast as our customers and our industry
require,” Chief Executive Officer Scott Thompson on Wednesday.
“Our goal is to get back to our core purpose — putting our
users and advertisers first — and we are moving aggressively to
achieve that goal.”
(Reuters) – Groupon Inc (GRPN.O: Quote, Profile, Research, Stock Buzz) unnerved investors yet again after it cut its previously reported fourth-quarter revenue and net income, blaming higher-than-anticipated refunds on deals for the sharp downward revision in the numbers.
The company, which has been criticized for its unorthodox financial reporting in the run-up to a highly publicized 2011 IPO, said in its annual report filed Friday that it has a “material weakness” in internal controls over its financial statement.
(Reuters) – Groupon Inc (GRPN.O: Quote, Profile, Research, Stock Buzz) pared back revenue and net income for the fourth quarter, blaming higher refunds on deals for the sharp downward revision in its previously reported numbers.
Groupon also said in its annual report, filed on Friday with the Securities and Exchange Commission, that it has a “material weakness” in internal controls over its financial statement.
SAN FRANCISCO (Reuters) – Much of the talk around the Jobs Act has centered on the technology sector, but the biggest impact could land on far more prosaic ventures, investors and analysts say.
The Jobs Act, a bill to make it easier for young companies to raise money, raced through Congress over the past several weeks and likely will be signed into law by President Obama next week.
SAN FRANCISCO, March 29 (Reuters) – Much of the talk around
the Jobs Act has centered on the technology sector, but the
biggest impact could land on far more prosaic ventures,
investors and analysts say.
The Jobs Act, a bill to make it easier for young companies
to raise money, raced through Congress over the past several
weeks and likely will be signed into law by President Obama next
SAN FRANCISCO, March 29 (Reuters) – Big companies like
Groupon letting their founders cash out well before an initial
public offering has raised eyebrows in Silicon Valley and on
Wall Street, but start-up Hootsuite is showing that smaller
companies can get in on the action too.
The Vancouver-based company, which sells social-media
management services, attracted a $20 million investment from
OMERS Ventures, part of the Onatario Municipal Employees
SAN FRANCISCO (Reuters) – Social-networking site Facebook is halting the sale of its shares on secondary markets effective next week as the company prepares to hold its initial public offering in May, according to a person familiar with the matter.
Facebook recently asked firms that arrange trading of its privately held shares to stop doing so, a move intended to reduce churn in its valuation that could complicate matters as it sets an IPO price, according to another person familiar with the matter.
SAN FRANCISCO (Reuters) – Andreessen Horowitz, a three-year-old venture capital firm, has made a big mark in Silicon Valley partly through the sheer scale of its endeavors, with big funds totaling some $2.7 billion and big investments in high-profile companies including Facebook, Twitter, Zynga and Groupon.
Now it is aiming to go big with another aspect of venture investing, one it says has often been more talk than action: providing start-up companies with business connections that can help them succeed.
An Onion-style take on the standard press release from Bessemer. Don’t be fooled by their Luddite posturing– these guys have invested in plenty of high-tech companies, including Skype and LinkedIn.
(Reuters) – Zynga Inc is buying OMGPOP, maker of the popular video game “Draw Something” for about $200 million in its biggest acquisition to date as the company moves to expand its lineup of games on mobile devices and Facebook.
A source familiar with the matter told Reuters that Zynga bought the New York-based company for $200 million. The company declined to comment on the deal’s financials or say whether it was accretive on a conference call on Wednesday.